PORTOLA HILLS LIVING by Kelly Turbeville

Hard to be believe we are finishing up the 1st month of the new year!   The year is starting off strong for Real Estate; Home Buyers are out and about and we are seeing slight increase in new listings overall.  However here in Portola the listings are still pretty light which brings opportunity for homeowners considering a move. Overall from 2012 to 2013, Portola was consistent with the rest of the market we saw about a 20% increase in pricing. Yay, Equity is building back up!!  With that said it is important to look at each segment of the market so you can determine what the best move for your home is. In Portola Hills there are 3 Property Segments.  The first is the Condo segment  which are attached properties that range from 900 sq.ft to 1300 sq.   26 homes condo's sold in 2013 with the average sold price of $312k for just over 1000 sq. ft.  The highest price point in 2013 was $408k for 1305 sq. ft.  Below is snapshot of the condo market. Portola Hills Condo Sales

Has the last few years been a struggle financially but you see light at the end of the table and would love to start fixing up your Portola Hills, Foothill Ranch or Lake Forest Home..... Did you know the City of Lake Forest offers Deferred Interest Loans to Qualifying Homeowners.....  There are two programs a zero percent and 3% percent program. To qualify you must first meet the required income limits.   The zero interest program offers no monthly payment but full pay back is due when you sell the home.  The city also offers a 3% program for those who incomes are bit higher but does require monthly payments.  Below is a snapshot of the income levels for both programs. Remember keeping your home up is helping your equity grow!!  If you have any questions you can reach out to Lake Forest Rehabilitation Specialist at: 949-461-3471, click here for more information .. In addition, If you are thinking about some new landscaping make sure to check in with the Irvine Ranch Wat

Yay, we made it,  2013 is over and it turned out to be quite the year for real estate in Portola Hills!  The year started off pretty slowly but then if you remember, it all became about inventory, inventory, inventory or should we say the lack there of.   With the low inventory many homes came on the market and were sold with multiple offers over asking price throughout South Orange County.   Below is a quick snapshot of how the year ending for Portola Hills. In Portola, I was surprised to not see more homes sold over asking price.   Homes priced between $200-$300k & $400-$500k saw a slight increase from list price to sold price.  However, the other price ranges did not see this same increase.  That means one of two things, these homes were over priced when originally listed or they were negotiated down in price from the buyer.  We are happy to report on average we our homes have consistently sold at 104% over asking price and the same was true in 2013. Listed Price vs. So